Normative economic statements
A) violate the law of ceteris paribus.
B) contain value judgments.
C) are usually irrational.
D) are easily testable.

Question

Quizplus · Accepted Answer

Normative economic statements express a value judgment about what ought to be done, rather than describing what is. They cannot be tested empirically and are subjective. Therefore, they often lead to disagreement between different groups or individuals, as people may have different opinions about what is desirable or preferable.

Normative Economic Statements